please fill out the chart and c , d , & e
Statement of Cash Flows (Direct Method) The Wolff Company's income statement and comparative balance sheets at December 31 of 2013 and 2012 are shown below: WOLFF COMPANY Income Statement For the Year Ended December 31, 2013 Sales Revenue $762,000 Cost of Goods Sold $516,000 Wages Expense 103,200 Insurance Expense 9,600 Depreciation Expense 20,400 Interest Expense 10,800 Income Tax Expense 34,800 694,800 Net Income $67,200 WOLFF COMPANY Balance Sheets Dec 31, 2013 Dec 31, 2012 Assets Cash Accounts Receivable Inventory $13,200 49,200 108,000 $6,000 38,400 72,000 Incorrect Mark 0.00 out of 1.00 Type here to search ORI WOLFF COMPANY Balance Sheets Dec. 31, 2013 Dec. 31, 2012 Assets $13,200 49,200 108,000 6,000 300,000 (81,600) $394,800 $6,000 38,400 72,000 8,400 234,000 (61,200) $297,600 Cash Accounts Receivable Inventory Prepaid Insurance Plant Assets Accumulated Depreciation Total Assets Liabilities and Stockholders' Equity Accounts Payable Wages Payable Income Tax Payable Bonds Payable Common Stock Retained Earnings Total Liabilities and Stockholders' Equity $8,400 10,800 8,400 156,000 108,000 103,200 $394,800 $12,000 7,200 9,600 90,000 108,000 70,800 $297,600 Cash dividends of $34.800 were declared and paid during 2013. Planta A Incorrect Mark 0.00 out of 1.00 Type here to search o Cash dividends of $34,800 were declared and paid during 2013. Plant assets were purchased for cash and bonds payable were issued for cash. Bond interest is paid semi-annually on June 30 and December 31. Accounts payable relate to merchandise purchases. Required a. Calculate the change in cash that occurred during 2013. b. Prepare a statement of cash flows using the indirect method. c. Compute free cash flow. d. Compute the operating-cash-flow-to-current-liabilities ratio. e. Compute the operating-cash-flow-to-capital-expenditures ratio. a. Change in Cash during 2013 5 7200 Increase b. Use a negative sign with cash outflow answers. WOLFF COMPANY Statement of Cash Flows For Year Ended December 31, 2013 Cash Flow from Operating Activities Cash Received from Customers 67200 X Incorrect Mark 0.00 out of 1.00 Type here to search 00 3:57 PM 10/16/2020 3 4 96 5 6 & 7 8 9 M $ X WOLFF COMPANY Statement of Cash Flows For Year Ended December 31, 2013 Cash Flow from Operating Activities Cash Received from Customers Cash paid for Merchandise Purchased $ Cash Paid to Employees 0 X Cash Paid as Insurance Cash Paid for Interest 0X Cash Paid as Income Taxes 0 x Cash Provided by Operating Activities Cash Flow from Investing Activities Purchase of Plant Assets Cash Flow from Financing Activities Issuance of Bonds Payable 0 x Payment of Dividends 0 X Cash Provided by Financing Activities Net Change in Cash Cash at Beginning of Year Cash at End of Year $ 0 x 0 X X 0 x 0 x OX OX C. Free cash flow $ 0 X d. Operating-cash-flow-to-current-liabilities ratio. Type here to search o gi Cash at Beginning of Year Cash at End of Year $ c. Free cash flow $ 0 X d. Operating-cash-flow-to-current-liabilities ratio. Round answer to two decimal places. X e. Operating-cash-flow-to-capital-expenditures ratio. Round answer to two decimal places. 0 X Check You have correctly selected 2. Partially correct Marks for this submission: 0.10/1.00. Type here to search
